Plan: How to Set Goals for Your Business
This will only take a few minutes. Set aside 10 or so.
Set Goals for Your Business
- Use the same whiteboard, planner, notebook, or calendar that you used to find your break-even and answer the following questions.
- What day are you going to finalize your product or start offering your service? (Goal 1)
- How much money do you want to make in the first year? (Goal 2)
- How many customers do you need to acquire to make that much money in your first year? (Goal 3)
- How many customers do you need per month/week/day to keep pace? (Goal 4)
- How much money do you want to put back into your business after the first year? (Goal 5)
- You need to develop other goals but these will give you a good head-start.
Goals need to be Specific, Measurable, Achievable, Relevant, and Time-Bound (SMART) in order to keep you accountable. What exactly do you need to do? How can it be measured? Is it achievable? Is it relevant to your business? And what is your deadline?